Standby Credit definition

Standby Credit means a Letter of Credit designed to be payable in the event of default or other nonperformance by party obligated to the beneficiary, such event to be evidenced by the presentation of documents.
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Standby Credit means a documentary credit, letter of guarantee or standby letter of credit, as the context requires;
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Standby Credit means a standby letter of credit opened or established by the Bank at the request of the Customer.
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Examples of Standby Credit in a sentence

  • Subsequent Standby Credit facility permitted if DCCO extended upto 2 / 1 year for infra and non-infra5.

  • At the time each Standby Credit is issued or increased and at the time the expiration date of any Standby Credit is extended.

  • Partly in response to United States advocacy, the IMF established the Standby Credit Facility (“SCF”) in July 2009 as a new instrument for concessional financing to low- income countries.

  • Negotiation/Payment/Examination Fees: (Minimum $250) 1/4 of 1% of the face amount of each drawing under each Standby Credit.

  • Standby Credit Department], hereby establish this irrevocable and unconditional Standby Letter of Credit (“this Credit”) in favor of the Beneficiary in the amount of [ spell out Dollar amount ] United States dollars (US$[ amount in numbers ]) (the “Stated Amount”) effective, 20 .

  • Tyler AvenueHarlingen, TX 78550 Date: _ Applicant: _ (name) _ _ (address) Amount: $ _Expiration Date: _ ( no longer than 15 months from approval by the City Attorney) To Whom It May Concern: We hereby issue in your favor this irrevocable standby letter of credit which is available by your drafts drawn on us bearing the clause "Drawn Under Standby Credit No. _ of the (bank name), at _ (bank address).

  • Amendment Fees: (Minimum $130) $130 for each amendment, unless the amendment is an increase in the Standby Credit amount or an extension of the expiration date, in which case the Commission Fee above will substitute for any Amendment Fee.

  • However, those obligations are supported by a Standby Credit from Shell Treasury Dollar Company Limited.

  • The Extended Range Cannon Artillery (ERCA) uses the existing M109A7 chassis and modernizes the vehicle to increase range and rate of fire.

  • The Optical Line Interface shall be suitable to work on mono mode fiber to specification No.IRS:TC55-98 or latest in the section under consideration connecting all the stations along the route.


More Definitions of Standby Credit

Standby Credit means the difference between the Specific Credit Line arising out of a Specific Business and Consumed Credit arising out of such Specific Business.
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Related to Standby Credit

  • Standby L/C an irrevocable letter of credit under which the Issuing Lender agrees to make payments in Dollars for the account of the Company, on behalf of the Company or any Subsidiary thereof in respect of obligations of the Company or such Subsidiary incurred pursuant to contracts made or performances undertaken or to be undertaken or like matters relating to contracts to which the Company or such Subsidiary is or proposes to become a party in the ordinary course of the Company's or such Subsidiary's business, including, without limiting the foregoing, for insurance purposes or in respect of advance payments or as bid or performance bonds or for any other purpose for which a standby letter of credit might customarily be issued.

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Standby is displayed, followed by a message stating “Bidding started”. Enter your “Start bid”.

  • Primary Credit Facility mean the credit facility described in the Line of Credit section of this Agreement.

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.

  • Standby Letter of Credit Fee shall have the meaning assigned to such term in Section 3.5(b)(i).

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Standby Letters of Credit shall have the meaning assigned to such term in Section 2.05(a).

  • Standby Fee has the meaning defined in Section 2.7.

  • Letter of Credit means any letter of credit issued pursuant to this Agreement.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Facility Letter of Credit means a Letter of Credit issued by an Issuer pursuant to Section 2.15.

  • Availability Credit means the remedy IBM will provide for a validated Claim. The Availability Credit will be applied in the form of a credit or discount against a future invoice of subscription charges for the Service.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Facility LC is defined in Section 2.19.1.

  • Alternate Currency Letter of Credit means any Letter of Credit denominated in an Alternate Currency.

  • Foreign Currency Letter of Credit means a Letter of Credit denominated in a Foreign Currency.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Facility LC Application is defined in Section 2.19.3.

  • LC means Letter of Credit

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Commercial Letter of Credit means any Letter of Credit issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by a Loan Party in the ordinary course of business of such Loan Party.